Orvieto Partners L.P. Makes New $2.87 Million Investment in MGM Resorts International (NYSE:MGM)

Orvieto Partners L.P. purchased a new stake in MGM Resorts International (NYSE:MGM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 82,800 shares of the company's stock, valued at approximately $2,869,000. MGM Resorts International comprises 2.4% of Orvieto Partners L.P.'s holdings, making the stock its 19th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in MGM Resorts International by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock valued at $79,110,000 after buying an additional 38,749 shares during the last quarter. Korea Investment CORP grew its position in shares of MGM Resorts International by 964.3% in the 4th quarter. Korea Investment CORP now owns 145,287 shares of the company's stock valued at $5,034,000 after acquiring an additional 131,636 shares during the period. ACR Alpine Capital Research LLC increased its stake in shares of MGM Resorts International by 23.3% during the 4th quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company's stock worth $5,613,000 after purchasing an additional 30,605 shares during the last quarter. Davis Selected Advisers raised its holdings in shares of MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock valued at $690,253,000 after purchasing an additional 882,417 shares during the period. Finally, Miracle Mile Advisors LLC acquired a new stake in MGM Resorts International in the 4th quarter valued at about $2,010,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on MGM shares. Mizuho upped their price objective on MGM Resorts International from $56.00 to $60.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Morgan Stanley cut their price objective on MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. BTIG Research cut MGM Resorts International from a "buy" rating to a "neutral" rating in a research report on Monday, February 3rd. Leerink Partners cut MGM Resorts International to a "market perform" rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group cut their price objective on MGM Resorts International from $52.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, January 3rd. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, MGM Resorts International has a consensus rating of "Moderate Buy" and an average price target of $50.06.

Insider Activity

In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 10,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the purchase, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.06% of the company's stock.

MGM Resorts International Price Performance

MGM Resorts International stock traded down $0.82 during mid-day trading on Tuesday, reaching $31.39. 1,788,666 shares of the company were exchanged, compared to its average volume of 5,689,613. The company has a fifty day simple moving average of $31.21 and a 200-day simple moving average of $34.48. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The firm has a market cap of $8.88 billion, a PE ratio of 13.08, a PEG ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, equities research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.